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Shardul Amarchand, JSA assist Indiabulls on $33.5m Gurgaon offices sale to Blackstone

“Indiabulls sells 50% stake in office assets for Rs 464 cr to Blackstone: The company’s existing wholly-owned subsidiaries Ashkit Properties Ltd and Yashita Buildcon Ltd have become joint ventures,” reported Business Standard.

Shardul Amarchand Mangaldas & Co advised Blackstone led by a team of Transaction: partner Mithun V Thanks, partner Anuj Bhasme, principal associate Neety Thakkar, senior associate Gaurav Dugar, associate Avichal Mathur, associate Nirav Punjani, associate Rutvi Shrimankar and associate Harshavardhan Sunder. Real estate advice was provided by partner Ashoo Gupta and principal associate Daryush Marfatia. Competition law advice was provided by partner Shweta Shroff Chopra, and senior associate Supritha Prodaturi.

JSA advised Indiabulls Real Estate Limited with a team of partner Lalit Kumar, principal associate Bharat Bhushan Sharma and associate Amandeep Singh Virk.

According to Shardul Amarchand, the “transaction pertains to the subscription by Blackstone of: (i) equity shares of Ashkit Properties Limited, amounting to 50% of the paid-up and issued share capital of APL; and (ii) equity shares and compulsorily convertible debentures of Yashita Buildcon Limited, amounting up to 49.9% of the paid-up and issued share capital of YBL. APL holds land in Gurugram, on which an IT/ITes project is being developed”.


Deal value: US$ 33.5 million

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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